Petrol hits a record at Rs 89/litre in Mumbai

Fuel prices in the country hit a new benchmark on Saturday with the price of petrol in Mumbai touching Rs 89 per litre, for the first time ever.

The recent surge in transportation fuel prices is largely attributed to high crude oil prices and a falling rupee.

Fuel prices in the country hit a new benchmark on Saturday with the price of petrol in Mumbai touching Rs 89 per litre, for the first time ever.

It was priced at Rs 89.01 in the financial capital of the country, up from Rs 88.67 per litre on Friday, data on the Indian Oil Corp’s website showed.

In the other key cities of Delhi and Chennai too, petrol prices climbed fresh highs of Rs 81.63 and Rs 84.85, against the previous levels of Rs 81.28 and Rs 84.49 per litre respectively.

Cost of the key fuel in the eastern city of Kolkata rose to Rs 83.49, from the Friday’s level of Rs 83.14 per litre. The all time high in the city is Rs 83.75, recorded on Tuesday, September 11.

The recent surge in transportation fuel prices is largely attributed to high crude oil prices and a falling rupee. A weak rupee against the dollar makes the import of crude oil expensive.

The price of Brent crude oil is currently over $78 per barrel.

Cost of the other transportation fuel, diesel also increased on Saturday. In Delhi, Mumbai and Chennai touching fresh record levels of Rs 73.54, Rs 78.07 and Rs 77.74 per litre, against the previous levels of Rs 73.30, Rs 77.82 and Rs 77.49 per litre.

In Kolkata, it is 43 paise short of the record high price of Rs 75.82, hit on Tuesday. Diesel, in the West Bengal capital was priced at Rs 75.39 on Saturday, up from previous level of Rs 75.15 per litre.